The mood among German companies deteriorated further in November. The Ifo Institute’s business climate index fell in the month from 86.6 points in October to 85.7 points. While the outlook for the future remained almost unchanged for many companies, the assessment of their current situation in particular fell.
While the downward trend continues, particularly in the services, manufacturing and construction sectors, the index increased in trading. According to Ifo, more companies would assess the current situation better and pessimism would decrease somewhat at the same time. Both wholesale and retail are affected by this. However, the mood here is not really positive either: at -26.6, the development in retail is no longer in last place (construction: -28.5; manufacturing: -21.9; service sector: 3.6) .
